Lockwood, MT Cost Of Living
Cost Of Living In Lockwood, MT Summary
Cost of living in Lockwood research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Lockwood is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Montana, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Lockwood is 102, with 100 being the average.
The cost of living index in Lockwood is 1.0x higher than the national average.
Lockwood ranks as the #10 cheapest in Montana out of 25.
Lockwood ranks as the #2,846 cheapest out of 6,489 in the US.
The median home value in Lockwood is $341,398.
The median income in Lockwood is $74,451.
Table Of Contents
Lockwood's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Lockwood, MT?
According to the most recent data on the cost of living, Lockwood has an overall cost of living index of 102, which is 1.0x higher than the national index of 100.
Compared to Montana, Lockwood has a cost of living index that's 1.0x higher than Montana's index of 101.
The standard of living in Lockwood ranks as #10 most affordable out of the 25 places we measured in Montana. By definition, that implies Lockwood ranks as the #15 most expensive place in the Treasure State.
For more reading on life in Lockwood, check out:
In Montana
In America
Lockwood Cost Of Living Vs. Montana
Six factors go into calculating the cost of living index in Lockwood. Here is how it fairs on each of the criteria:
The Services index in Lockwood is 104.
The Groceries index in Lockwood is 101.
The Health index in Lockwood is 103.
The Housing index in Lockwood is 103.
The Transportation index in Lockwood is 124.
The Utilities index in Lockwood is 91.
| Living Expense | Lockwood | Montana | National Average | |
|---|---|---|---|---|
| Overall | 102 | 101 | 100 | |
| Services | 104 | 104 | 100 | |
| Groceries | 101 | 102 | 100 | |
| Health | 103 | 99 | 100 | |
| Housing | 103 | 100 | 100 | |
| Transportation | 124 | 107 | 100 | |
| Utilities | 91 | 95 | 100 | |
Lockwood, MT Housing Cost Breakdown
Housing swings affordability the most between places in Montana, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Lockwood is $341,398.
The Median Rent in Lockwood is $995.
The Median Income in Lockwood is $74,451.
The Home Value To Income in Lockwood is 4.6x.
The Rent To Monthly Income in Lockwood is 0.16x.
Median Home Value
Median Rent
Median Income
Lockwood, MT Costs By Category
Detailed Lockwood Services Costs Vs. Montana
Detailed Lockwood Groceries Costs Vs. Montana
Detailed Lockwood Health Costs Vs. Montana
Detailed Lockwood Transportation Costs Vs. Montana
Detailed Lockwood Utilities Costs Vs. Montana
Lockwood SnackAbility
/10
Cost Of Living In Cities Around Lockwood
The cost of living varies in the cities and towns around Lockwood. Here's a quick look at the cost of living in the most populous nearby places:
Billings, MT has a cost of living index of 108, 1.1x Lockwood.
Laurel, MT has a cost of living index of 100, 1.0x Lockwood.
| City | Population | Cost Of Living | Vs. Lockwood |
|---|---|---|---|
| Billings, MT | 118,321 | 108 | 1.1x |
| Laurel, MT | 7,198 | 100 | 1.0x |
